The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements. This segment also offers client execution activities for cash and derivative instruments; credit and interest rate products; and provision of mortgages, currencies, commodities, and equities related products, as well as underwriting services. The Asset & Wealth Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies, and commodities; and provides customized investment advisory solutions, wealth advisory services, personalized financial planning, and private banking services, as well as invests in corporate equity, credit, real estate, and infrastructure assets. The Platform Solutions segment offers credit cards and point-of-sale financing for purchase of goods or services. This segment also provides cash management services, such as deposit-taking and payment solutions for corporate and institutional clients. The Goldman Sachs Group, Inc. was founded in 1869 and is headquartered in New York, New York.

Goldman Sachs appears to be a high-quality but no longer cheap business: strong profitability is combined with a noticeable premium to the sector across several valuation multiples. A P/E of 15.71 is 21.7% above the sector median, while P/S of 4.78 and P/B of 2.44 are roughly double or more than industry benchmarks, which limits re-rating potential. At the same time, the recent trend in P/B and P/S has been rather stable or slightly rising, meaning the market is already pricing in high quality. Profitability metrics look convincing: ROE of 16.2%, return on tangible equity of 16.2%, net margin of 30.28%, and operating margin of 39.72% are above the median and improving over the years. This confirms that the company is able to generate returns on capital better than most peers. On the other hand, ROA of 1.03% and ROI of 4.66% are below the industry median, indicating less-than-ideal efficiency in the use of assets and invested capital. Leverage remains an important risk: debt/equity of 2.83 is significantly above the industry level, and long-term debt has increased to $315.4 billion, which raises sensitivity to funding costs and market stress. Liquidity also does not look like a strength: a current ratio of 0.63 and a quick ratio of 0.00 are not critical for a bank, but they still reflect dependence on the balance sheet structure and confidence in funding. At the same time, the absolute scale of the business is growing: revenue, operating profit, net profit, and EBITDA are all increasing year by year, while assets have risen to $2.13 trillion. Equity remains large, but is growing only minimally, which partly explains the high valuation multiples on equity. Dividend yield of around 0.5% looks modest and does not provide a strong defensive argument for the valuation. Overall, the fundamentals support a premium valuation, but the current price already reflects a significant portion of the good news, so only a moderate conservative downward adjustment is appropriate for the target.

Goldman Sachs Group, Inc. (The)

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Средний индекс, значительно вырос. Рынок на стороне быков.

Medium index, significantly up. The market is on the bulls' side.

Слабый индекс, незначительно вырос. Приток средств в лонги остается на невысоком уровне.

Weak index, slightly up. The inflow of funds into longs remains at a low level.

Strong profitability and business growth support GS, but the high premium on P/E, P/B, and P/S, together with rising debt, limits further upside.

Key Points
SpaceX is primarily known for launching rockets.
SpaceX is evolving through targeted moves in artificial intelligence (AI), internet connectivity, and telecommunications.
As SpaceX's platform grows, the stock could appreciate materially compared to today's levels.
Since its historic initial public offering (IPO) in June, Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) has become one of the most closely watched stocks on Wall Street. SpaceX isn't simply a rocket company anymore. Musk is evolving the space exploration business into a more diversified technology platform spanning satellite internet, artificial intelligence (AI), and software.
With so much going on at the company, investors are naturally curious about what SpaceX could look like over the next several years. Let's explore what a $3,000 investment in SpaceX stock could turn into by 2030.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
SpaceX has more going for it than just rockets
SpaceX operates across three business segments: space, connectivity, and AI. The space segment provides launch services for commercial customers and government agencies. While this remains central to SpaceX's identity, it is actually the company's smallest revenue generator.
At the moment, the largest contributor to sales and profits belongs to connectivity, which is primarily driven by Starlink. Starlink provides satellite internet services to consumers and enterprise businesses worldwide.
During the second quarter, Starlink generated $4.3 billion in revenue, an increase of 66% year over year. More importantly, the connectivity segment produced $1.7 billion in operating income, making it SpaceX's only source of consistent profitability.
Starlink's opportunity could be on the verge of becoming much larger. SpaceX is making significant investments in direct-to-cell satellite technology, which could eventually allow ordinary smartphones to connect directly to its satellites.
There's another segment growing even faster than Starlink, and that's what Wall Street is paying close attention to.
SpaceXAI could be a hidden gem
Following its combination with xAI and acquisition of Cursor, SpaceX has built a unique AI ecosystem. The company's SpaceXAI division brings together Grok, AI-powered software development tools, and computing infrastructure.
Grok competes in the intense market for generative AI assistants like ChatGPT and Claude, while Cursor provides SpaceX with exposure to demand for AI coding tools. Meanwhile, SpaceX's AI infrastructure supports the deployment of new models. This vertically integrated approach creates several new revenue opportunities, including subscriptions, enterprise software, and AI capacity services.
During Q2, SpaceX's AI segment generated $2.6 billion in revenue, representing nearly 247% growth year over year. This makes AI SpaceX's fastest-growing business. However, this growth is yet to translate into immediate profitability. SpaceX's AI infrastructure is operating at a loss as the company invests billions of dollars in accelerated computing infrastructure.
What could SpaceX stock be worth by 2030?
SpaceX's market capitalization hovers around $2 trillion. According to Wall Street's consensus estimates, SpaceX could generate $116 billion in revenue next year. Based on its current valuation, that implies a forward price-to-sales (P/S) ratio of roughly 17.
That's a hefty premium given the company's cash burn and uncertainty around the trajectory of the space exploration and AI businesses. Nevertheless, I think Starlink should continue to add millions of subscribers while expanding its relationships with wireless carriers between now and 2030. Meanwhile, SpaceXAI should also benefit from increasing capital expenditures (capex) from AI hyperscalers.
Goldman Sachs and Morgan Stanley forecast SpaceX could generate more than $300 billion in annual revenue by 2030. If that materializes, I think a market capitalization of $5 trillion is a realistic outcome. If SpaceX's valuation expands from $2 trillion today to $5 trillion by December 2030, its market capitalization increases by 150%. This means a $3,000 investment would grow to $7,500.
Although its valuation leaves little room for disappointment, I think a modest investment in SpaceX stock could become a multibagger by 2030. For investors with a long-term time horizon and who can stomach volatility, SpaceX is an intriguing opportunity.
Should you buy stock in Space Exploration Technologies right now?
Before you buy stock in Space Exploration Technologies, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Space Exploration Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $391,581!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,780!*
Now, it’s worth noting Stock Advisor’s total average return is 936% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 16, 2026.
Adam Spatacco has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy.

Prediction: $3,000 Invested in SpaceX Will Be Worth This Much by 2030

Key Points
Goldman Sachs generated third-quarter net revenues of $18.7 billion.
Financing activities represented over 40% of trading revenues year-to-date.
Assets under supervision reached $4.1 trillion in the third quarter.
On its third quarter of 2026earnings call held on Oct. 13, 2026, Goldman Sachs (NYSE:GS) announced net revenues of $18.7 billion for the quarter. Higher recurring revenue streams across asset management and market financing strengthen the bank's earnings stability. Three takeaways from the call stand out for long-term investors.
1. Market Financing Drives Revenue Durability
Trading financing, where the bank lends capital and securities to institutional clients in its Fixed Income, Currency and Commodities (FICC) and stock trading units, provides consistent fee streams. FICC covers trading in bonds, foreign currencies, and raw materials. These predictable financing fees cushion the firm against unpredictable swings in quarterly market trading volume.
Importantly, financing activities have become a larger and more durable component of our markets businesses, representing over 40% of FICC and Equities revenues year-to-date.
-- David Solomon, Chairman and Chief Executive Officer
2. Expense Control and Capital Discipline Expand Long-Term Returns
Operating leverage occurs when revenue growth outpaces operating expenses, expanding profit margins over time. By maintaining strict control over non-compensation overhead while expanding high-margin management fees in asset management, the firm builds a higher baseline for long-term shareholder returns through varying market environments.
The increased durability, coupled with our expense discipline and prudent capital management enhances the resilience of our earnings and supports higher returns through the cycle, providing Goldman Sachs with an even stronger foundation for growth.
-- David Solomon, Chairman and Chief Executive Officer
3. Data Center Infrastructure Financing Creates Strategic Growth
Technology companies building artificial intelligence data centers require massive debt and equity financing structures. As an intermediary connecting borrowers with global capital, the bank earns lucrative advisory and underwriting fees while structuring private credit and public market packages to solve compute capacity shortages.
In our conversations with clients, demand for compute significantly exceeds supply at the moment, creating opportunities to help develop financing structures to meet that capacity shortfall.
-- David Solomon, Chairman and Chief Executive Officer
Looking Ahead
Corporate dealmaking is accelerating as executives restructure operations and seek capital for infrastructure buildouts.
Clients are taking action to modernize operations, secure critical capabilities and reallocate capital toward their highest return opportunities.
-- David Solomon, Chairman and Chief Executive Officer
Goldman Sachs leverages its premier advice platform, broad market access, and deep institutional relationships. Management is managing risk underwriting and capital deployment discipline.
Expanding recurring fees from assets under supervision, which represents total client assets managed by the firm, reinforces earnings growth through shifting market cycles.
I've never been more confident in our ability to create long-term value for shareholders by making the right investments to grow the firm and generate sustainable earnings growth.
-- David Solomon, Chairman and Chief Executive Officer
Should you buy stock in Goldman Sachs Group right now?
Before you buy stock in Goldman Sachs Group, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Goldman Sachs Group wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $391,581!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,780!*
Now, it’s worth noting Stock Advisor’s total average return is 936% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 16, 2026.
This article was created using Large Language Models (LLMs) based on The Motley Fool's insights and investing approach. It has been reviewed by our AI quality control systems. Since LLMs cannot (currently) own stocks, it has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Goldman Sachs: 3 Key Takeaways for Long-Term Investors

Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Goldman Sachs (GS) Q3 2026 Earnings Call Transcript

(RTTNews) - Goldman Sachs Group, Inc. (GS) reported Tuesday that net earnings applicable to common shareholders for the third quarter surged to $5.12 billion or $17.01 per share from $3.86 billion or $12.25 per share in the prior-year quarter.
Provision for credit losses for the quarter was $368 million, up 9 percent from $339 million last year, primarily reflected impairments related to wholesale loans.
Total net revenues for the quarter grew 23 percent to $18.68 billion from $15.18 billion in the same quarter last year, primarily reflected significantly higher net revenues in Global Banking & Markets.
Net interest income for the quarter was down 2 percent to $3.77 billion, and total non-interest revenues increased 32 percent to $14.91 billion from last year.
Operating expense grew 20 percent to $11.31 billion from last year, primarily reflected significantly higher transaction based expenses and higher compensation and benefits expenses
On Monday, the Board of Directors of The Goldman Sachs Group, Inc. declared a dividend of $5.00 per common share to be paid on December 30, 2026 to common shareholders of record on December 2, 2026.
In Tuesday's pre-market trading, GS is trading on the NYSE at $923.30, up $29.35 or 3.28 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Goldman Sachs Q3 Net Profit Rises 33% - Update

The following companies are expected to report earnings prior to market open on 10/13/2026. Visit our Earnings Calendar for a full list of expected earnings releases.
J P Morgan Chase & Co (JPM)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 6 analysts that follow the stock is $5.94. This value represents a 17.16% increase compared to the same quarter last year. In the past year JPM has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 9.84%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for JPM is 13.78 vs. an industry ratio of 16.00.
Johnson & Johnson (JNJ)is reporting for the quarter ending September 30, 2026. The large cap pharmaceutical company's consensus earnings per share forecast from the 5 analysts that follow the stock is $2.53. This value represents a 9.64% decrease compared to the same quarter last year. In the past year JNJ has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 2.11%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for JNJ is 23.38 vs. an industry ratio of 19.20, implying that they will have a higher earnings growth than their competitors in the same industry.
UnitedHealth Group Incorporated (UNH)is reporting for the quarter ending September 30, 2026. The hmo company's consensus earnings per share forecast from the 8 analysts that follow the stock is $4.12. This value represents a 41.10% increase compared to the same quarter last year. In the past year UNH has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 29.15%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for UNH is 19.11 vs. an industry ratio of 21.20.
The Goldman Sachs Group, Inc. (GS)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 7 analysts that follow the stock is $12.90. This value represents a 5.31% increase compared to the same quarter last year. In the past year GS has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 44.99%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for GS is 13.27 vs. an industry ratio of 16.00.
Wells Fargo & Company (WFC)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.85. This value represents a 6.94% increase compared to the same quarter last year. WFC missed the consensus earnings per share in the 1st calendar quarter of 2026 by -1.27%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for WFC is 11.49 vs. an industry ratio of 16.00.
Citigroup Inc. (C)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 7 analysts that follow the stock is $2.66. This value represents a 18.75% increase compared to the same quarter last year. In the past year C has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 15.81%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for C is 11.59 vs. an industry ratio of 16.00.
Domino's Pizza Inc (DPZ)is reporting for the quarter ending September 30, 2026. The restaurant company's consensus earnings per share forecast from the 9 analysts that follow the stock is $4.33. This value represents a 6.13% increase compared to the same quarter last year. Zacks Investment Research reports that the 2026 Price to Earnings ratio for DPZ is 16.33 vs. an industry ratio of 3.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Albertsons Companies, Inc. (ACI)is reporting for the quarter ending August 31, 2026. The consumer company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.31. This value represents a 26.19% decrease compared to the same quarter last year. ACI missed the consensus earnings per share in the 2nd calendar quarter of 2026 by -28.85%. Zacks Investment Research reports that the 2027 Price to Earnings ratio for ACI is 7.39 vs. an industry ratio of 17.40.
FB Financial Corporation (FBK)is reporting for the quarter ending September 30, 2026. The bank (northeast) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.21. This value represents a 13.08% increase compared to the same quarter last year. FBK missed the consensus earnings per share in the 1st calendar quarter of 2026 by -0.88%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for FBK is 11.27 vs. an industry ratio of 10.90, implying that they will have a higher earnings growth than their competitors in the same industry.

Pre-Market Earnings Report for October 13, 2026 : JPM, JNJ, UNH, GS, WFC, C, DPZ, ACI, FBK

Key Points
Melius Research upgraded Microsoft to buy, based on its cybersecurity offering for AI agents.
Goldman Sachs upgraded Palantir to buy, citing demand from companies that want control over their AI data.
TD Cowen upgraded Marvell to buy on its AI data center connectivity business, and its valuation looks reasonable for its growth potential.
Three tech stocks got Wall Street upgrades last week: Microsoft (NASDAQ: MSFT), Palantir (NASDAQ: PLTR), and Marvell Technology (NASDAQ: MRVL). Marvell has climbed 224% year to date, while Palantir is up 17% and Microsoft has trailed the S&P 500's 14% gain.
All three have solid catalysts and could be solid long-term investments, but Marvell offers the best growth for the price.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Microsoft
On Oct. 5, Melius Research analyst Ben Reitzes upgraded Microsoft from hold to buy with a $665 price target. That implies about 25% upside from the current share price.
With growing concerns around AI safety, the analyst sees Microsoft's cybersecurity offerings benefiting from the adoption of AI agents. On the company's fiscal fourth-quarterearnings callin July, CEO Satya Nadella highlighted the advantages of Agent 365. It extends security tools to AI agents, and nearly 40 million agents are already registered on the platform, reflecting the advantage Microsoft has from its long-running relationships with leading enterprises.
Azure, the cloud backbone for Microsoft's AI services, continues to benefit from surging demand. Revenue from Azure and other cloud services grew 43% year over year in fiscal Q4 2026, which ended in June, and management said demand still exceeds capacity.
The stock trades at 27 times forward earnings, based on fiscal 2027 estimates. The consensus analyst estimate is for earnings to grow at an annualized rate of 15% in the coming years. That's a reasonable price-to-earnings-to-growth (PEG) multiple of 1.8x.
The main risk is that growth depends on how quickly Microsoft can add data center capacity, a process that requires heavy spending and could drag on margins and earnings. Still, a slightly higher P/E and continued growth in the business put the $665 price target within realistic reach over the next year, with more gains in store for investors who hold for the long term.
Palantir Technologies
On Oct. 8, Goldman Sachs analyst Gabriela Borges upgraded Palantir from neutral to buy with a $230 price target. That implies about 10% upside from the current share price.
Palantir shares have surged about 65% in the last three months, but the analyst sees further upside as companies seek to control their own data and AI models. That should increase demand for Palantir's custom-built applications with each enterprise customer.
This builds on the trends Palantir is already seeing. Palantir's Artificial Intelligence Platform (AIP) lets companies build and run AI models using their proprietary data. That is one of the main factors that appeals to prospective customers who want full control over their data and don't want it used to train another company's AI models.
Management's full-year 2026 guidance calls for revenue of approximately $8.1 billion, up about 82% from 2025. Analysts expect 53% annualized earnings growth in the coming years. However, it trades at a forward earnings multiple of 123 -- a PEG multiple of 2.3x. I hold Palantir in my portfolio, but I don't expect it to hit the analyst's price target in the near term. Marvell offers a better valuation relative to expected growth.
Marvell Technology
If I were adding new money to any of the three right now, it would be Marvell. On Oct. 7, TD Cowen analyst Sean O'Loughlin upgraded Marvell from hold to buy with a $350 price target. That implies about 27% upside from the current share price.
The upgrade follows Marvell's Investor Day on Oct. 6, 2026, where management highlighted the momentum in its connectivity business -- the chips and optics that move data inside AI data centers. O'Loughlin sees the risk around its custom chip business fading. These risks centered on the low margins custom chips produce and Marvell's dependence on selling these chips to a few customers.
During the investor day conference, CEO Matt Murphy raised the company's fiscal 2028 revenue outlook to about $20 billion. He said the shift from AI training to inference and the use of agents will drive greater demand for connectivity equipment, with optics already accelerating, backing up the analyst's thesis.
Marvell is also positioned to capture a growing share of AI infrastructure spending with its custom silicon business. These are chips designed for specific tasks, such as cloud giants' AI workloads. That business is expected to grow from $1.5 billion in revenue in 2025 to $12 billion by fiscal 2029.
The stock trades at 65 times 2027 earnings estimates, with analysts expecting 49% annualized earnings growth in the next several years. Marvell offers the lowest PEG ratio of the three at 1.3x. This could support the stock reaching the analyst's price target over the next year, while also setting up the potential for excellent returns for an investor who buys today and holds for the long term.
Should you buy stock in Microsoft right now?
Before you buy stock in Microsoft, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Microsoft wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $379,123!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,408,822!*
Now, it’s worth noting Stock Advisor’s total average return is 950% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 11, 2026.
John Ballard has positions in Palantir Technologies. The Motley Fool has positions in and recommends Goldman Sachs Group, Marvell Technology, Microsoft, and Palantir Technologies. The Motley Fool has a disclosure policy.

3 Tech Stocks Wall Street Upgraded Last Week, and the One I'd Buy First

Key Points
SpaceX is growing fast and has unique opportunities in space activity and AI.
Nvidia is at the center of AI development, and revenue doubled even as it's getting bigger.
SpaceX stock is richly valued, while Nvidia looks more attractively priced.
Space Exploration Technologies (NASDAQ: SPCX) has been the most-talked-about stock of the year, and it's finally starting to take flight. It's only up 4% since its first-day closing price, but it's trading up 55% since it bottomed out in August.
It has become the sixth most valuable company in the U.S., with a $2.2 trillion market cap, but Nvidia (NASDAQ: NVDA) is keeping its top spot, getting closer to a $6 trillion market cap. If I had a choice of investing $10,000 in either one, here's what I would do.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The case for SpaceX: Massive opportunities
It hasn't paid to bet against Elon Musk in the past. Tesla has revolutionized the auto industry, and Tesla stock has gained 23,440% since going public in 2010. He has also been involved in several other major tech companies, including PayPal Holdings and OpenAI.
SpaceX is the culmination of many of Musk's innovations, bringing together the SpaceX rocket-launching business, the Starlink satellite broadband business, and the SpaceXAI artificial intelligence (AI) model. These are exciting innovations that are already in motion and making money, and the company sees a massive addressable market. It's planning to go to Mars, set up shop on the moon, and put data centers into space.
In the company's first earnings report since going public, SpaceX demonstrated robust growth across its businesses. Total revenue increased 92% year over year, and net loss nearly halved to $541 million. The Starlink business reported $1.7 billion in operating income, a 79% increase over last year, and doubled subscribers to 12 million, while the rocket business remains the largest commercial rocket-launching business in the world. The two segments work together, since many of SpaceX's launches bring Starlink satellites into space. Starlink has more than 11,000 satellites in low Earth orbit and has plans for 100,000 in total to provide coverage to every spot on Earth.
SpaceX also plans to have 1 million Starmind AI satellites, which are mini data centers in space. Management sees its biggest opportunities in AI, and it has signed some important deals recently, including one with Anthropic, which will rent Nvidia chips from SpaceXAI's data centers, potentially worth $84.5 billion through 2029.
The risks for SpaceX fall into two main camps. One is that there are many expectations, and the company may not meet them. The second is that the stock appears very expensive, trading at 69 times trailing 12-month sales.
The case for Nvidia: It's the power behind AI
Nvidia has skyrocketed as the power behind AI development. Its best-in-class graphics processing units (GPUs) have the necessary parallel processing power to drive generative AI, and it releases advanced platforms every year. This year, it has released the Vera Rubin series, which has "10x agent throughput at scale compared with the previous-generation Nvidia Grace Blackwell platform," according to the company. The line includes a full computer system with several types of chips, including the central processing units (CPUs) that are critical components of agentic AI.
Revenue has recently been accelerating as the major hyperscalers ramp up spending. In the 2027 fiscal second quarter (ended July 26), revenue more than doubled to $96.2 billion, and gross margin improved from 72.4% to 75%. CFO Colette Kress has already given an outlook of 70% sales growth in 2028, although she said that without its supply constraints, sales would double.
Nvidia has relationships with all kinds of companies in several mutually beneficial deals. For example, it has a $2 billion stake in cloud computing company CoreWeave, which in turn buys its chips, and SpaceX recently announced a deal to buy $40 billion worth of Nvidia chips for its data centers. Most well-known is probably its relationship with Amazon. Amazon offers Nvidia GPUs to its Amazon Web Services (AWS) cloud clients, and it just purchased another 2 million, while Nvidia uses AWS services.
Analysts are predicting higher AI spend, and a nice piece of that goes to Nvidia. Goldman Sachs forecasts $1 trillion in global spend this year and frames its predictions as a percentage of U.S. gross domestic product (GDP). It predicts 1.8% of U.S. GDP in 2026, rising to 2.5% in 2027 and 2.8% in 2028.
On top of all that, Nvidia stock looks cheap, trading at 30 times trailing-12-month earnings. The market is already pricing in next year's slowdown.
The verdict: SpaceX vs. Nvidia
Don't worry, I'm not going to tell you to split it in half. I'm actually going to go with Nvidia. SpaceX could have massive opportunities, but I'm not convinced it's a buy at this price. It would also be good to see a few more quarters of growth data to better assess its risk.
That leaves Nvidia, which has a proven track record and a highly profitable business at an attractive price.
Should you buy stock in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $379,123!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,408,822!*
Now, it’s worth noting Stock Advisor’s total average return is 950% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 11, 2026.
Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Nvidia, PayPal, and Tesla. The Motley Fool recommends the following options: short December 2026 $62.50 calls on PayPal. The Motley Fool has a disclosure policy.

If I Had a Choice to Invest $10,000 in SpaceX or Nvidia, Here's What I Would Do

Fintel reports that on October 8, 2026, TD Cowen initiated coverage of Goldman Sachs Group, Inc. - Corporate Bond (NYSE:GS) with a Buy recommendation.
Prior to this coverage initiation, the company's stock closed at $887.21 on October 7, 2026. This latest close represents a one-week price change of -1.46% from a baseline close of $900.36 on September 30, 2026, and a one-month price change of -14.58% from a baseline close of $1,038.61 on September 4, 2026.
As of October 2, 2026, the current consensus target mean for the stock stands at $1,178.16, with a median target of $1,173.00. This mean target represents an implied change of +32.79% from the market price. The prior consensus target mean was $1,198.39 as of September 14, 2026, reflecting a consensus target revision of -1.69%.
In terms of aggregate analyst sentiment, the recommendation profile for the period ending September 1, 2026, consisted of 6 strong buy, 9 buy, 16 hold, 0 sell, and 1 strong sell recommendations. This distribution, totaling 32 recommendations, represents 46.9% positive, 50.0% hold, and 3.1% negative ratings. This profile remained unchanged from the prior period ending August 1, 2026, which also recorded 6 strong buy, 9 buy, 16 hold, 0 sell, and 1 strong sell recommendations.
Other recent analyst actions include BMO Capital maintaining a Market Perform rating on October 6, 2026, and UBS maintaining a Neutral rating on October 5, 2026. Evercore ISI Group maintained an Outperform rating on October 1, 2026, while HSBC maintained a Hold rating on September 28, 2026. Additionally, Wells Fargo maintained an Overweight rating on September 25, 2026, and Citigroup maintained a Neutral rating on September 23, 2026.
The Goldman Sachs Group, Inc., based in the United States, is a global investment banking, securities, and investment management firm. In its latest earnings report on July 14, 2026, the company reported actual EPS of 20.98, compared to the estimate of 14.9103, representing an EPS surprise of +40.71%. Actual revenue was $20,338,000,000.00, compared to the estimated $16,608,868,789.00. The company's upcoming earnings announcement is scheduled for October 13, 2026, before the market opens.
Recent analyst actions
Recent analyst upgrades, downgrades, initiations, and maintained ratings
Date
Analyst
Prior
Latest recommendation
Action
October 8, 2026
TD Cowen
Buy
initiated coverage
October 6, 2026
BMO Capital
Market Perform
Market Perform
maintained
October 5, 2026
UBS
Neutral
Neutral
maintained
October 1, 2026
Evercore ISI Group
Outperform
Outperform
maintained
September 28, 2026
HSBC
Hold
Hold
maintained
September 25, 2026
Wells Fargo
Overweight
Overweight
maintained
September 23, 2026
Citigroup
Neutral
Neutral
maintained
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This story originally appeared on Fintel.

TD Cowen Initiates Coverage of Goldman Sachs Group, Inc. - Corporate Bond at Buy

Key Points
Although the stock market has performed well in 2026, rising inflation and higher interest rates could derail the rally.
How much longer can the generative AI boom carry the market?
You can use a lot of words to describe Donald Trump's administration, but boring is not one of them. Since Trump's election victory in 2024, he has embarked on a series of unorthodox economic policies that are starting to reshape the U.S. economy and its relationship with the rest of the world.
Let's dig deeper into the reasons a downturn could be on the horizon.
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First, the good news
Some will call it luck; others will call it skill. But despite his unorthodox and volatile policy decisions, Trump's time in office has tended to correlate with strong stock market performance. In fact, the S&P 500 has already risen 27.6% since his election victory in November. This may have something to do with his corporate tax breaks and looser regulatory stance on energy policy and new industries like generative artificial intelligence (AI).
Goldman Sachs expects global AI spending to exceed $1 trillion in 2026. And many on Wall Street are likely betting that the Trump administration will help create a favorable regulatory environment for U.S. tech giants to build their data centers while also protecting their legacy businesses from hostile regulation in foreign jurisdictions like the E.U. Still, although the positive sentiment has certainly helped lift stocks, the AI boom faces some fundamental challenges that could soon worsen.
Frontier AI model creators like Anthropic and OpenAI continue to go through money, the latter expecting to burn an eye-watering $280 billion by 2030. Furthermore, many hyperscalers on the infrastructure side of the opportunity could soon face negative free cash flow as they pour money into expensive hardware and equipment. Trump's radical economic policies may already be adding fuel to the fire.
The Trump honeymoon period could soon end
Despite his frequent attempts to talk down inflation, Trump's actual policies have increased it. Aggressive tariffs raise the cost of imported finished goods and components, while the war in Iran has triggered bottlenecks in the Strait of Hormuz and Bab el-Mandeb, which are key to the global oil and gas trade. The result is that Brent crude is up 70% since the start of the year, and the Federal Reserve has been forced to raise its benchmark interest rate to 3.75% to 4.00% to try to keep prices under control.
Historically, Fed tightening cycles have tended to correlate with underperformance in the stock market. And this comes at an extremely bad time for the capital-hungry AI industry because higher rates make it more expensive for tech companies to access the financing they need to build their huge data centers.
The political uncertainty and unchecked federal deficit spending is also causing bond yields to rise (with the 10-Year Treasury hitting an alarming 5.2%) as of this writing. Government bonds represent the risk-free rate in the U.S. economy. When they start offering attractive returns, investors tend to become less willing to risk their money in more speculative and higher-risk opportunities like new technologies, putting pressure on growth stock valuations.
Meanwhile, low-cost (and often open-source) Chinese AI models continue to gain ground on their capital-intensive American rivals. This introduces the possibility of margin compression in the future and calls into question whether the huge sums U.S. tech companies are spending will actually lead to sustainable long-term returns.
What should investors do next?
The AI boom is getting long in the tooth. During the next few quarters, the fallout from Trump's unorthodox economic policies could start hurting stock valuations. Nevertheless, financial markets are notoriously difficult to time correctly, so selling everything or trying to short the S&P 500 probably isn't the best way to respond to the situation.
Instead, investors should focus on diversifying their portfolios outside of high-risk sectors like AI and betting on stable, fairly valued businesses that can thrive even in this increasingly uncertain economic climate.
Where to invest $1,000 right now
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Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy.

Will President Trump Crash the Stock Market? History Says This Could Come Next.

Key Points
Dell is poised to capitalize on strong AI server shipments, higher average selling prices, and an improving market share.
The high-flying AI stock trades at a very attractive valuation despite its multibagger performance in 2026.
Dell's bottom line can grow at a terrific pace through 2030, setting the stock up for significant gains.
Dell Technologies (NYSE: DELL) is playing a central role in the global artificial intelligence (AI) infrastructure ecosystem by providing high-end servers, networking, and storage solutions.
The strong demand for these AI infrastructure components has supercharged growth in Dell's Infrastructure Solutions Group (ISG) segment. The company reported a terrific year-over-year revenue increase of 89% in the ISG business in the second quarter of fiscal 2027 to a record $31.8 billion, driven mainly by demand for AI servers.
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The good news for Dell stock investors is that the AI server market is poised to grow at a fast clip over the long run. Importantly, the company has already built a solid backlog that should ensure healthy growth in the ISG segment. Let's take a closer look at Dell's AI server backlog and see why it can send the stock soaring over the next four years.
Dell is scratching the surface of a massive opportunity
Dell's AI server orders reached a record $60.9 billion in fiscal Q2 (which ended on July 31). The company recognized $16.4 billion in AI server revenue during the quarter, which explains why its backlog increased to a whopping $95 billion.
Dell has received $131.7 billion in AI server orders over the past 12 months, and its growing backlog suggests that the ISG business is on track to get even bigger. Dell expects to sell $74 billion in AI servers in fiscal 2027, a 3x increase over its fiscal 2026 AI server revenue. Importantly, Dell estimates that its potential AI server order pipeline is in multiples of its backlog.
So, the $95 billion backlog figure could jump substantially going forward. After all, Goldman Sachs estimates that the AI server market could generate $1.24 trillion in revenue in 2030. The investment bank had earlier estimated the AI server market's revenue would hit $961 billion by the end of the decade. It has significantly raised that forecast due to heavy investments in AI infrastructure.
Even better, Goldman Sachs notes that a combination of strong volume and higher pricing will drive growth in the AI server market. The firm has increased its average selling price (ASP) estimate by 15% for AI servers over the prior estimate. Another piece of good news for Dell investors is that the company is gaining share in AI servers.
Specifically, Dell's AI server revenue share increased to 17% in the first quarter of 2026, up from just 5% in the year-ago quarter, driven by robust adoption of its solutions by both enterprises and neocloud infrastructure providers. If Dell maintains even 20% share of AI servers in 2030, its annual revenue from this segment could jump to $248 billion. That would be a jump of over 3x from the AI server revenue it anticipates for the current fiscal year.
Throw in the potential improvement in AI server ASPs, and it is easy to see why analysts have become increasingly bullish about Dell's long-term earnings growth prospects.
Why now is a good time to invest $1,000 in this AI stock
Dell stock has jumped 347% in 2026, as of this writing. Even then, it trades at a reasonable 32 times trailing earnings. The forward earnings multiple of 21 is even more attractive compared to the Nasdaq-100 index's forward earnings multiple of 24.
Buying this AI stock at these multiples is a no-brainer, especially considering that Dell expects a 148% jump in non-GAAP earnings per share (EPS) in fiscal 2027 to $25.50. Analysts are expecting a slowdown in Dell's EPS growth over the next couple of fiscal years, though that's unlikely to be the case given strong AI server demand and higher ASPs.
But even if Dell's earnings reach $34.62 per share in fiscal 2029, and it clocks a 38% EPS jump in fiscal years 2030 and 2031 (based on analysts' long-term growth estimate seen earlier in the article), its EPS could hit $65.93 in fiscal 2031 (which ends in January 2031). If this tech stock trades at 24 times earnings at that time, in line with the Nasdaq-100 index's forward earnings multiple, its stock price could jump to $1,582.
That's almost thrice Dell's current stock price. So, if you've $1,000 in investible cash after meeting your expenses, clearing high-interest debt, and saving enough for tough times, buying Dell with that cash could be a smart move, as it has the potential to triple your money by 2030.
Should you buy stock in Dell Technologies right now?
Before you buy stock in Dell Technologies, consider this:
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Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy.

Goldman Sachs Group, Inc. (The)

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